BNP sets up fund to invest in troubled loans in Japan

BNP Paribas plans to raise up to $741 million for a fund it created in April to invest in nonperforming loans held by banks in Japan. The fund has already finalised two deals, according to Masahiro Kikyo, who manages the fund. "We will acquire nonperforming loans from not only regional banks but also from the megabanks," Kikyo said. "We're not limiting our investments to any particular industry."